Birch Hill Investment Advisors LLC Has $4.11 Million Stake in Analog Devices, Inc. (NASDAQ:ADI)

Birch Hill Investment Advisors LLC lifted its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 2.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,858 shares of the semiconductor company’s stock after acquiring an additional 442 shares during the quarter. Birch Hill Investment Advisors LLC’s holdings in Analog Devices were worth $4,110,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. New Millennium Group LLC bought a new position in shares of Analog Devices in the 2nd quarter worth about $29,000. Riverview Trust Co acquired a new stake in shares of Analog Devices in the 1st quarter valued at about $30,000. ORG Partners LLC grew its stake in shares of Analog Devices by 675.0% in the 2nd quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock valued at $35,000 after buying an additional 135 shares during the period. CVA Family Office LLC grew its stake in shares of Analog Devices by 40.2% in the 2nd quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock valued at $36,000 after buying an additional 45 shares during the period. Finally, Hobbs Group Advisors LLC acquired a new stake in shares of Analog Devices in the 2nd quarter valued at about $37,000. 86.81% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Gregory M. Bryant sold 30,000 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $228.93, for a total value of $6,867,900.00. Following the sale, the executive vice president now owns 79,093 shares in the company, valued at $18,106,760.49. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Gregory M. Bryant sold 30,000 shares of Analog Devices stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $228.93, for a total value of $6,867,900.00. Following the sale, the executive vice president now owns 79,093 shares in the company, valued at $18,106,760.49. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $228.08, for a total transaction of $2,280,800.00. Following the completion of the sale, the chief executive officer now owns 51,039 shares in the company, valued at approximately $11,640,975.12. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 91,495 shares of company stock valued at $20,794,658. Insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ADI. Oppenheimer reiterated an “outperform” rating and set a $245.00 price target on shares of Analog Devices in a research note on Thursday, August 22nd. Truist Financial downgraded Analog Devices from a “buy” rating to a “hold” rating and cut their target price for the stock from $266.00 to $233.00 in a research note on Monday, September 23rd. Cantor Fitzgerald reiterated a “neutral” rating and issued a $250.00 price objective on shares of Analog Devices in a research note on Tuesday, October 8th. JPMorgan Chase & Co. upped their price objective on Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Finally, Morgan Stanley increased their target price on Analog Devices from $250.00 to $257.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Six analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $249.80.

Analog Devices Stock Up 0.9 %

Shares of NASDAQ ADI opened at $232.86 on Friday. The firm’s 50-day moving average price is $223.68 and its 200-day moving average price is $219.88. The company has a current ratio of 1.69, a quick ratio of 1.24 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $115.61 billion, a price-to-earnings ratio of 69.93, a P/E/G ratio of 3.87 and a beta of 1.07. Analog Devices, Inc. has a 12-month low of $154.99 and a 12-month high of $244.14.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 EPS for the quarter, beating the consensus estimate of $1.50 by $0.08. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. The company had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.27 billion. During the same period in the prior year, the firm posted $2.49 EPS. The firm’s revenue was down 24.8% compared to the same quarter last year. On average, equities research analysts anticipate that Analog Devices, Inc. will post 6.34 EPS for the current fiscal year.

Analog Devices Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were issued a $0.92 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.58%. Analog Devices’s dividend payout ratio is currently 110.51%.

Analog Devices Company Profile

Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems products in the United States, rest of North and South America, Europe, Japan, China, and rest of Asia. The company provides data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; power management and reference products for power conversion, driver monitoring, sequencing, and energy management applications in the automotive, communications, industrial, and consumer markets; and power ICs that include performance, integration, and software design simulation tools for accurate power supply designs.